Johnson & Johnson Announces Completion of Synthes Acquisition

NEW BRUNSWICK, N.J., June 14, 2012 /PRNewswire-FirstCall/ --
Johnson & Johnson (NYSE: JNJ) today announced the completion of
the acquisition of Synthes, Inc. for a total purchase price of
$19.7 billion in cash and stock. Synthes will now be integrated
with the DePuy franchise to establish the DePuy Synthes Companies
of Johnson & Johnson.

"The completion of the Synthes acquisition creates the world's
most innovative and comprehensive orthopaedics business and
reflects our long-standing strategy of leadership within attractive
health care markets," said Alex Gorsky, Chief Executive Officer,
Johnson & Johnson. "The combination of these two respected
leaders -- Synthes and DePuy -- will enable us to better serve
clinicians and patients worldwide, bring new innovations to the
marketplace in orthopaedics and neurologics, and strengthen our
ability to compete in developing markets."

"This is a very exciting day for the people of Synthes and DePuy
as we become one comprehensive enterprise dedicated to advancing
patient care through innovative, total solutions that are developed
from a deep understanding of our customers' needs," said Michel
Orsinger, Worldwide Chairman, Global Orthopaedics Group, and former
CEO of Synthes. "We are building on the legacy and strengths of two
great companies to create one organization that will be agile and
responsive in today's evolving health care environment."

Under the terms of the agreement, each share of Synthes common
stock will be exchanged for CHF 55.65 in cash and 1.7170 shares of
Johnson & Johnson common stock. Cash will be provided for
fractional shares. Further information regarding closing
instructions for Synthes shareholders can be found on www.investor.jnj.com or
www.Synthes.com.

About Johnson & Johnson
Caring for the world, one person at a time, inspires and unites the
people of Johnson & Johnson. We embrace research and science -
bringing innovative ideas, products and services to advance the
health and well-being of people. Our approximately 129,000
employees at more than 250 Johnson & Johnson operating
companies work with partners in health care to touch the lives of
over a billion people every day, throughout the world.

NOTE TO INVESTORS

(This communication contains "forward-looking statements" as
defined in the Private Securities Litigation Reform Act of 1995.
The reader is cautioned not to rely on these forward-looking
statements. These statements are based on current expectations of
future events. If underlying assumptions prove inaccurate or
unknown risks or uncertainties materialize, actual results could
vary materially from the expectations and projections of Johnson
& Johnson. Risks and uncertainties include, but are not
limited to, general industry conditions and competition; economic
factors, such as interest rate and currency exchange rate
fluctuations; technological advances, new products and patents
attained by competitors; challenges inherent in new product
development, including obtaining regulatory approvals; challenges
to patents; significant adverse litigation; impact of business
combinations; financial distress and bankruptcies experienced by
significant customers and suppliers; changes to governmental laws
and regulations and domestic and foreign health care reforms;
trends toward health care cost containment; increased scrutiny of
the health care industry by government agencies; changes in
behavior and spending patterns of purchasers of health care
products and services; financial instability of international
economies and sovereign risk; disruptions due to natural disasters;
manufacturing difficulties or delays; product efficacy or safety
concerns resulting in product recalls or regulatory action. In
addition, there are risks and uncertainties related to Johnson
& Johnson's ability to successfully integrate the businesses of
DePuy and Synthes, as well as the ability to ensure continued
performance or market growth of Synthes' products. A further list
and description of these risks, uncertainties and other factors and
the general risks associated with the respective businesses of
Johnson & Johnson and Synthes can be found in Exhibit 99 of
Johnson & Johnson's Annual Report on Form 10-K for the fiscal
year ended January 1, 2012, and Synthes' 2011 Audited Financial
Statements. Copies of these filings, as well as subsequent filings,
are available online at www.sec.gov, www.jnj.com, www.synthes.com or on request from
Johnson & Johnson. Johnson & Johnson does not
undertake to update any forward-looking statements as a result of
new information or future events or developments.)

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